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Kivalliq Energy Earns 100% Interest in Commander's Baffin Gold Property, Nunavut
Vancouver, British Columbia--(Newsfile Corp. - March 27, 2018) - Commander Re sources Ltd. (...
About this update from Valore Metals Corp.
[{"type":"text","content":"Kivalliq Energy Earns 100% Interest in Commander's Baffin Gold Property, NunavutVancouver, British Columbia--(Newsfile Corp. - March 27, 2018) - Commander Resources Ltd. (TSXV: CMD) (\"Commander\") is pleased to announce that it has received a 250,000 share option payment from Kivalliq Energy Corporation (TSXV: KIV) (\"Kivalliq\") resulting in Kivalliq vesting a 100% interest in Commander's Baffin Island Gold Property in Nunavut Territory, Canada which includes mineral claims and a recently signed 2017 MEA with NTI on two blocks within Inuit Owned Land parcel BI-35 (8,105 hectares). In addition to other consideration further outlined below Commander will retain a 0.25% to 0.5% NSR on the ground that was optioned from Commander. Separately Commander also retains a 0.25% NSR on Kivalliq's regional lands through a previously announced data sales agreement with Kivalliq with respect to regional geoscience data held by Commander pertaining to additional lands held 100% by Kivalliq. The combined area of the Baffin Gold Property is 4089.8 square kilometres. The larger Kivalliq property covers 160 kilometres of the Foxe Fold belt on central Baffin Island, one of the largest undeveloped greenstone-iron formation gold belts in Nunavut, Canada. This represents a district-scale land package covering an entire Proterozoic gold belt with geological and structural similarities known to be host to multi-million ounce gold mines elsewhere in Nunavut (i.e. Meadowbank, Lupin) as well as the prolific Homestake mine in South Dakota. Previous exploration has identified numerous prospects along 140 kilometres of strike length, with high-grade gold occurring in multiple settings: silicate and sulphide iron formation; shear zones and quartz veins hosted in granodiorite, meta-volcanics and meta-sediments. Future consideration will include 500,000 Kivalliq shares at a Bankable Feasibility Study and a cash payment of up to $6 million upon commencement of Commercial Production. These payments and the NSR may be adjusted up until the date of the first royalty payment to reflect the possible impact of any past commercial arrangement or interests.Robert Cameron, P. Geo. is a qualified person within the context of National Instrument 43-101 and has read and takes responsibility for the technical aspects of this release.About Commander Resources: Commander Resou...